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Side-by-side financial comparison of Expeditors International (EXPD) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
Expeditors International is the larger business by last-quarter revenue ($2.9B vs $1.7B, roughly 1.7× HANOVER INSURANCE GROUP, INC.). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.9% vs 7.0%, a 4.8% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (5.5% vs -3.3%). HANOVER INSURANCE GROUP, INC. produced more free cash flow last quarter ($377.0M vs $270.3M). Over the past eight quarters, Expeditors International's revenue compounded faster (13.8% CAGR vs 3.8%).
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
The Hanover Insurance Group, Inc. is an insurance company based in Worcester, Massachusetts. It was the original name of a property-liability insurance firm established in 1852, and it remained a publicly traded company under that name until the early 1990s, when it changed its name to Allmerica Property & Casualty Companies.
EXPD vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $1.7B |
| Net Profit | $200.7M | $198.5M |
| Gross Margin | — | — |
| Operating Margin | 8.8% | 17.3% |
| Net Margin | 7.0% | 11.9% |
| Revenue YoY | -3.3% | 5.5% |
| Net Profit YoY | -14.9% | 18.2% |
| EPS (diluted) | $1.50 | $5.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.9B | $1.7B | ||
| Q3 25 | $2.9B | $1.7B | ||
| Q2 25 | $2.7B | $1.7B | ||
| Q1 25 | $2.7B | $1.6B | ||
| Q4 24 | $3.0B | $1.6B | ||
| Q3 24 | $3.0B | $1.6B | ||
| Q2 24 | $2.4B | $1.5B | ||
| Q1 24 | $2.2B | $1.6B |
| Q4 25 | $200.7M | $198.5M | ||
| Q3 25 | $222.3M | $178.7M | ||
| Q2 25 | $183.6M | $157.1M | ||
| Q1 25 | $203.8M | $128.2M | ||
| Q4 24 | $235.9M | $167.9M | ||
| Q3 24 | $229.6M | $102.1M | ||
| Q2 24 | $175.5M | $40.5M | ||
| Q1 24 | $169.2M | $115.5M |
| Q4 25 | 8.8% | 17.3% | ||
| Q3 25 | 10.0% | 14.9% | ||
| Q2 25 | 9.3% | 12.7% | ||
| Q1 25 | 10.0% | 11.6% | ||
| Q4 24 | 10.2% | 16.1% | ||
| Q3 24 | 10.1% | 9.6% | ||
| Q2 24 | 9.2% | 6.2% | ||
| Q1 24 | 9.7% | 9.7% |
| Q4 25 | 7.0% | 11.9% | ||
| Q3 25 | 7.7% | 10.7% | ||
| Q2 25 | 6.9% | 9.5% | ||
| Q1 25 | 7.6% | 8.0% | ||
| Q4 24 | 8.0% | 10.6% | ||
| Q3 24 | 7.7% | 6.5% | ||
| Q2 24 | 7.2% | 2.6% | ||
| Q1 24 | 7.7% | 7.4% |
| Q4 25 | $1.50 | $5.46 | ||
| Q3 25 | $1.64 | $4.90 | ||
| Q2 25 | $1.34 | $4.30 | ||
| Q1 25 | $1.47 | $3.50 | ||
| Q4 24 | $1.68 | $4.60 | ||
| Q3 24 | $1.63 | $2.80 | ||
| Q2 24 | $1.24 | $1.12 | ||
| Q1 24 | $1.17 | $3.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $1.1B |
| Total DebtLower is stronger | — | $843.3M |
| Stockholders' EquityBook value | $2.4B | $3.6B |
| Total Assets | $4.9B | $16.9B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.2B | $915.7M | ||
| Q2 25 | $1.2B | $244.1M | ||
| Q1 25 | $1.3B | $315.1M | ||
| Q4 24 | $1.1B | $435.5M | ||
| Q3 24 | $1.3B | $427.1M | ||
| Q2 24 | $1.3B | $337.6M | ||
| Q1 24 | $1.4B | $264.6M |
| Q4 25 | — | $843.3M | ||
| Q3 25 | — | $843.0M | ||
| Q2 25 | — | $347.8M | ||
| Q1 25 | — | $722.5M | ||
| Q4 24 | — | $722.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.4B | $3.6B | ||
| Q3 25 | $2.3B | $3.4B | ||
| Q2 25 | $2.2B | $3.2B | ||
| Q1 25 | $2.3B | $3.0B | ||
| Q4 24 | $2.2B | $2.8B | ||
| Q3 24 | $2.4B | $2.9B | ||
| Q2 24 | $2.2B | $2.6B | ||
| Q1 24 | $2.2B | $2.5B |
| Q4 25 | $4.9B | $16.9B | ||
| Q3 25 | $4.8B | $16.8B | ||
| Q2 25 | $4.8B | $15.7B | ||
| Q1 25 | $4.8B | $15.5B | ||
| Q4 24 | $4.8B | $15.3B | ||
| Q3 24 | $5.2B | $15.4B | ||
| Q2 24 | $4.8B | $14.9B | ||
| Q1 24 | $4.5B | $14.6B |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $283.3M | $378.2M |
| Free Cash FlowOCF − Capex | $270.3M | $377.0M |
| FCF MarginFCF / Revenue | 9.5% | 22.6% |
| Capex IntensityCapex / Revenue | 0.5% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.41× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | $953.4M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $283.3M | $378.2M | ||
| Q3 25 | $201.4M | $554.4M | ||
| Q2 25 | $179.2M | $206.6M | ||
| Q1 25 | $342.6M | $38.9M | ||
| Q4 24 | $249.7M | $213.5M | ||
| Q3 24 | $90.0M | $394.7M | ||
| Q2 24 | $126.8M | $139.5M | ||
| Q1 24 | $256.9M | $58.7M |
| Q4 25 | $270.3M | $377.0M | ||
| Q3 25 | $190.3M | $551.4M | ||
| Q2 25 | $163.3M | $204.9M | ||
| Q1 25 | $329.5M | $37.1M | ||
| Q4 24 | $239.7M | $210.5M | ||
| Q3 24 | $77.7M | $392.3M | ||
| Q2 24 | $118.8M | $137.3M | ||
| Q1 24 | $246.7M | $56.1M |
| Q4 25 | 9.5% | 22.6% | ||
| Q3 25 | 6.6% | 33.1% | ||
| Q2 25 | 6.2% | 12.4% | ||
| Q1 25 | 12.4% | 2.3% | ||
| Q4 24 | 8.1% | 13.3% | ||
| Q3 24 | 2.6% | 25.1% | ||
| Q2 24 | 4.9% | 8.9% | ||
| Q1 24 | 11.2% | 3.6% |
| Q4 25 | 0.5% | 0.1% | ||
| Q3 25 | 0.4% | 0.2% | ||
| Q2 25 | 0.6% | 0.1% | ||
| Q1 25 | 0.5% | 0.1% | ||
| Q4 24 | 0.3% | 0.2% | ||
| Q3 24 | 0.4% | 0.2% | ||
| Q2 24 | 0.3% | 0.1% | ||
| Q1 24 | 0.5% | 0.2% |
| Q4 25 | 1.41× | 1.91× | ||
| Q3 25 | 0.91× | 3.10× | ||
| Q2 25 | 0.98× | 1.32× | ||
| Q1 25 | 1.68× | 0.30× | ||
| Q4 24 | 1.06× | 1.27× | ||
| Q3 24 | 0.39× | 3.87× | ||
| Q2 24 | 0.72× | 3.44× | ||
| Q1 24 | 1.52× | 0.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
